Lyft (NASDAQ:LYFT) Price Target Raised to $14.00 at UBS Group

Lyft (NASDAQ:LYFT) had its target price upped by UBS Group from $12.00 to $14.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a neutral rating on the ride-sharing company’s stock.

Several other research firms have also recently issued reports on LYFT. Morgan Stanley decreased their price objective on shares of Lyft from $17.00 to $15.00 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company decreased their price target on Lyft from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Thursday, April 3rd. Loop Capital dropped their price objective on Lyft from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. BMO Capital Markets cut their target price on Lyft from $18.00 to $15.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 12th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $15.00 price target on shares of Lyft in a report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $16.47.

Lyft Trading Up 28.0 %

LYFT opened at $16.64 on Friday. The business has a fifty day moving average price of $11.84 and a 200 day moving average price of $13.59. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75. Lyft has a 12 month low of $8.93 and a 12 month high of $19.07. The stock has a market capitalization of $6.96 billion, a price-to-earnings ratio of 277.33, a PEG ratio of 1.90 and a beta of 2.14.

Lyft (NASDAQ:LYFT) last released its earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.19). Lyft had a return on equity of 8.03% and a net margin of 0.39%. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the previous year, the company posted $0.15 earnings per share. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. Sell-side analysts expect that Lyft will post 0.22 earnings per share for the current fiscal year.

Lyft announced that its Board of Directors has approved a stock repurchase program on Tuesday, February 11th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the ride-sharing company to purchase up to 8.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Lyft

In other news, Director Logan Green sold 11,411 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total transaction of $152,222.74. Following the sale, the director now owns 297,640 shares of the company’s stock, valued at $3,970,517.60. The trade was a 3.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 22,736 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $12.45, for a total value of $283,063.20. Following the completion of the transaction, the insider now directly owns 959,697 shares of the company’s stock, valued at $11,948,227.65. The trade was a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,143 shares of company stock valued at $486,841 in the last ninety days. 3.07% of the stock is currently owned by company insiders.

Institutional Trading of Lyft

Several large investors have recently bought and sold shares of LYFT. Vanguard Group Inc. raised its stake in shares of Lyft by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 38,049,250 shares of the ride-sharing company’s stock worth $451,645,000 after buying an additional 2,046,639 shares during the last quarter. Pacer Advisors Inc. raised its position in Lyft by 32.4% during the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock worth $121,369,000 after acquiring an additional 2,302,248 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in Lyft by 15.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 9,338,222 shares of the ride-sharing company’s stock worth $120,463,000 after acquiring an additional 1,224,056 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Lyft by 282.0% in the fourth quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company’s stock valued at $111,240,000 after purchasing an additional 6,365,727 shares in the last quarter. Finally, Two Sigma Investments LP grew its position in shares of Lyft by 156.9% in the fourth quarter. Two Sigma Investments LP now owns 8,025,099 shares of the ride-sharing company’s stock valued at $103,524,000 after purchasing an additional 4,901,358 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Company Profile

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.